(1) There is established in the State Treasury, separate and distinct from the General Fund, the Oregon Entrepreneurial Development Loan Fund. All moneys in the fund are continuously appropriated to the Economic and Community Development Department for the following purposes:
(a) Administrative costs of the department incurred in processing loan applications, investigating the eligibility of loan applicants and servicing outstanding loans;
(b) Paying for loan origination and loan servicing by contractors under ORS 285B.740 to 285B.758; and
(c) Payment of loans to applicants under ORS 285B.740 to 285B.758.
(2) The Oregon Entrepreneurial Development Loan Fund shall consist of:
(a) Moneys appropriated to the fund by the Legislative Assembly;
(b) Interest earned on moneys in the fund; and
(c) Moneys received as repayment of principal and interest on loans made from the fund under ORS 285B.740 to 285B.758. [1991 c.688 §13]
Section: Previous 285B.731 285B.740 285B.743 285B.746 285B.749 285B.752 285B.755 285B.758 285B.765 285B.766 285B.767 285B.770 285B.773 285B.776 285B.781 NextLast modified: August 7, 2008